BTC Climb to $110K Boosted by US-China Trade Talks
Published: June 10, 2025
- Bitcoin price climbs 3.6% to above $109,000, fueled by renewed optimism around US-China trade negotiations.
- Technical indicators point towards a continuation of the bullish momentum, with a target near $158,000 cited for the potential bull flag breakout.
- Derivatives market data shows significantly increased open interest and liquidation of short positions.
Bitcoin (BTC) price climbed significantly on June 10, rising by approximately 3.6% in the preceding 24 hours to surpass the $109,000 threshold. The coin reached an intraday peak of around $110,532, according to data aggregated by Cointelegraph Markets Pro and TradingView.
US-China Trade Talks Ignite Risk Appetite
The surge gained momentum following renewed optimism that entangled ongoing US-China trade discussions in London could yield positive results.
🔥 NEW: US-China trade talks resume Monday in London.
Karoline Leavitt calls it a push for more comprehensive talks. pic.twitter.com/fAH0CSu9wi— Cointelegraph (@Cointelegraph) June 8, 2025
These negotiations, centering on easing existing tariffs, are viewed as a potential harbinger of de-escalating trade tensions. Positive trade news often translates into enhanced ‘risk-on’ sentiment across markets, prompting capital flight towards higher-risk assets like Bitcoin.
Historical precedents, such as BTC’s ascent to then all-time highs in late May following the implementation of a US-China 90-day trade agreement, lend credence to this relationship.
Furthermore, the anticipated release of US Consumer Price Index (CPI) data introduces inflationary considerations. Positive trade developments may alleviate concerns suggesting potential Federal Reserve policy tightening, a scenario that crypto markets often interpret negatively.
The market consensus ahead of the June 18 Federal Open Market Committee (FOMC) meeting indicates a near certain expectation that interest rates will remain unchanged. The FedWatch tool currently assigns a 99.9% probability to the target lending rate staying constant.
Bullish Derivatives Data Precedes Rebound
Data shows an increase in open long positions for Bitcoin in the derivatives market preceded the rally towards $110,000. According to CoinGlass, the cryptocurrency’s total open interest (OI) in the derivatives space climbed to a two-week high of $77 billion on June 10.
The notable 8% jump in Bitcoin’s overall OI within the past 24 hours signals amplified demand for leveraged long BTC positions, as illustrated in the following data snapshot.
Furthermore, Glassnode data indicates that CME Group BTC futures Open Interest alone reached a 14-day high of 151,915 BTC, valued at approximately $16.6 billion.
This surge is paralleled by a significant jump in trading volume across Bitcoin’s derivatives markets, which increased by 112% over the prior 24 hours to reach $114.3 billion.
Bearish market sentiment took a hit during the recent rally, with over $195 million worth of short BTC positions liquidated in the last 24 hours. This contrasts sharply with the $9.3 million liquidated from long positions, forcing opposing traders to exit their short bets.
Bull Flag Pattern Targets $158K
Evidence suggests Bitcoin is continuing its upward trajectory. The BTC/USD chart exhibits a confirmed bull flag pattern, highlighted when the price registered a closing above the flag’s upper boundary, breaching $105,600 on June 8.
The substantial ‘flagpole’ preceding the consolidation sets a significant price projection. This pattern analysis points towards a potential BTC target near $158,000, representing approximately a 44% increase from current levels.
Technical momentum indicators reinforce the bullish case. The Relative Strength Index (RSI) remains within bullish territory, hovering around 61. Analysts argue this leaves room for further appreciation before preliminary ‘overbought’ conditions—though the definition of which remains subject to interpretation.
Separate analysis from Cointelegraph also noted a potential breakout from an earlier cup-and-handle pattern formation, suggesting a path towards the $140,000 price region.
This article is not investment advice or a recommendation to engage in any investment activity. Trading and investing in assets like cryptocurrency involves substantial risk of loss and requires careful personal consideration. Readers are encouraged to conduct their own research before making investment decisions.
